Posts Tagged ‘Economy’

Biotechnology Companies Affected By Finance Crisis

Wednesday, December 3rd, 2008

Biotechnology companies have been hit hard by the global economic crisis, as seen by recent and unprecedented bankruptcy filings, as well as in the cut in funds allocated to the development of new drugs to treat diseases such as multiple sclerosis, Alzheimer’s and Parkinson’s.

Last month, at least five biotechnology companies have had their attorneys file bankruptcy for them, something unusual for the industry. Biotechnology bankruptcies have been relatively rare, as struggling companies have opted for other solutions, such as new investors, mergers, or new licensing or development deals.

Tactics used by some biotechnology companies to avoid bankruptcy include downsizing, moving to smaller offices, shelving early research projects and delaying research on new drugs, all in order to avoid looking for a bankruptcy attorney.

Investors are expected to come back once the economy gets stable, so the biotechs continue working on projects like a prostate cancer therapy, a polio vaccine and new diabetes treatments.

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Riverside County Restaurants Expanding Marketing Strategies.

Wednesday, November 26th, 2008

The downturned economy is setting the perfect scene for a battle starring restaurants, food chains and small diners in Riverside County

Restaurants and other food joints are using different tactics to attract customers, keep the loyal ones, if it comes to it, to avoid layoffs and closings

Facing soaring ingredient prices and lack of customers, the food industry has been doing all it can to survive this recession. Employing tactics such as value deals, 2 x 1 coupons, smaller food portions, price increases and lunch service elimination, restaurants of all sizes in Riverside County and San Bernardino County are hoping this will be enough to avoid bankruptcy.

Some of the chains and restaurants that have implemented these tactics are Black Angus and The Daily Grill, which have eateries in Riverside, and Mimi’s Café in Temecula, Chino, Corona, and Fontana

None of these chains or restaurants have been forced into bankruptcy — yet. Riverside County and other Inland Empire residents are hoping it stays that way…

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Cash Decreases, Creativity Increases.

Tuesday, November 25th, 2008

In an economy such as ours, where many Riverside County residents and businesses are doing all they can to avoid bankruptcy, and in many cases need the help of bankruptcy attorneys, creative solutions to save cash are needed. For even if a bankruptcy attorney is to be hired, there still has to be some cash around to pay for those bankruptcy services. Enter: bartering.

The practice of bartering has increased these past few months, according to Mike Ames, founder of Trade American Card, a barter club based in Orange County. Barter, or reciprocal trade, allows people to trade goods or services for other people’s products or services. “If you need to save cash, bartering is best”, says Bob Meyer, founder and publisher of the Mission Viejo trade publication “Barter News”.

Trade American Card hosted its 38th Barter Expo this past Sunday in Anaheim. They were expecting more than 1,000 people and 150 exhibitors selling the products they usually barter. “The potential deals are almost limitless”, said Paul Herrera, owner of Herrera Advertising and Marketing in Garden Grove.

Nevertheless, Mayer notes that trade exchanges are not exempt of risks. “See where you can spend your trade dollars”. “[When doing barter,] the chance you take is that the small business will still be in business later”.

For many professionals and stores located in the Riverside County cities of Corona, Temecula, Murrieta, as well as in other Inland Empire cities like Ontario, Rancho Cucamonga, and Fontana, bartering could be a good option to get the most out of their bucks, possibly avoid bankruptcy, or at least save some cash to be able to pay for a bankruptcy attorney.

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